Affiliated Managers Group, Inc. (NYSE:AMG) Position Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,198 shares of the asset manager’s stock after selling 4,811 shares during the period. New York State Teachers Retirement System’s holdings in Affiliated Managers Group were worth $7,618,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its stake in Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after purchasing an additional 69 shares during the period. Covestor Ltd boosted its stake in Affiliated Managers Group by 21.4% in the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock worth $84,000 after purchasing an additional 83 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC boosted its stake in Affiliated Managers Group by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock worth $164,000 after purchasing an additional 94 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Affiliated Managers Group by 1.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock worth $1,553,000 after buying an additional 100 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMG shares. Barrington Research increased their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus price target of $198.40.

Affiliated Managers Group Stock Performance

AMG opened at $169.39 on Thursday. The company has a market cap of $5.12 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The stock has a 50-day moving average of $182.64 and a 200-day moving average of $180.82. Affiliated Managers Group, Inc. has a 52-week low of $147.13 and a 52-week high of $199.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.45 and a current ratio of 2.13.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.85 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.